Daily Spot…

A daily summary of high-profile members of several complexes… View a more detailed discussion of each chart at the end of today’s Market Wrap.

Eurodollar Jun Contract (EC, ETF: (FXE, UUP))
Wednesday’s steep drop had fulfilled its minimum 1.1245 objective and also probed prior lows, but that didn’t prevent gapping down and extending lower. A second consecutive lower close Thursday creates the requirement for at least one more eventual lower close.

Gold Jun Contract (GC, ETF: (GLD))
Wednesday’s FOMC Minutes had triggered a break under the 1271.50 sell signal after close, and it extended lower overnight to attack the 1241.00 target to within $4 before bouncing. A lot of selling pressure was expended, but gapping down doesn’t gain much traction.

Silver Jul Contract (SI, ETF: (SLV))
The minimum 16.75 objective had been met after Wednesday’s close reacted to the FOMC Minutes, and extending down overnight probed the 16.50 target by 15 cents,

30-year Treasury Jun Contract (US, ETF: (TLT))
Wednesday’s deep drop had held a test of 163-07 support to allow a corrective bounce that tested the 164-17 buy signal as resistance. Its recovery would target 167-26.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Dipping overnight to gap down Thursday tested the 47.25 sell signal, but it wasn’t likely to trigger since a top had not completed. Thursday morning’s bounce nearly filled the gap back to Wednesday’s 48.08 close.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
Thursday’s EIA report wasn’t greeted from a position of strength. Recovering its knee-jerk reaction down to 1.95 back above Monday’s 2.02 low would be the minimum requirement to begin sealing a bottom — Thursday afternoon tested Tuesday’s 2.05 close. Signaling a rally would still require closing above 2.11 and 2.14..